Question

Jim is able to sell a hand-carved statue for $\$670$ which was a $35\%$ profit over his cost. How much did the statue originally cost him?

• A. $\$496.30$
• B. $\$512.40$
• C. $\$555.40$
• D. $\$574.90$
• E. $\$588.20$

Answer 1

The correct option is A $\$496.30$

Let the original cost be $a$
We have $\frac{35}{100}=\frac{670-a}{a}$

$\Rightarrow 135a=67000$
$\Rightarrow a=\frac{67000}{135}=496.30$